This evening, Finance Minister Clyde Caruana, presented Budget 2023 with the theme – Malta, Certainty and Stability – in the House of Representatives.
Prime Minister Robert Abela described it as a budget with a “vision for a sustainable future that addresses today’s realities.”
Some of the highlights of this Budget announced for Gozo and of general interest, are shown below, and may be updated:
The Finance Minister said the discussions are taking place with Brussels for the Gozo Channel service to cover the next two years for a Public Service Obligation.
As regards the Gozo Rural Airfield, the Minister said that works will continue.
For Gozo, the Finance Minister said that the government will dedicate €60 million in a new Sustainable Urban Development fund. Investment will also continue in the island’s residential road structure.
Also in Gozo, the long-promised and awaited new health centre in Victoria was named as a capital project in the health sector for the island.
The Finance Minister announced that a new incentive scheme together with the Gozo Tourism Association is to be launched to attract long-stay tourism, and in partnership with tour operators.
Home purchase schemes such as first-time buyer, second-time buyer and Gozo property schemes will continue in 2023.
Investment by local companies in digital projects can benefit from up to 50% of the investment back, up to €100,000. While Gozitan businesses and start-ups can get an additional 10% tax credit, possibly rising to 20% if investment in projects reduces their carbon footprint.
The COLA adjustment for this year will be €9.90 for pensioners, workers and anyone on social benefits. The Finance Minister also said that stipends will increase on a pro-rata basis.
Around 100,000 pensioners will see an increase of €12.50 per week, which includes the COLA increase and a pension increase of €2.60.
The cap for non-taxable pensions has been increased to €14,968. There will be a further exemption up to €3,600 per year for those with a computation for married couples on any other income. Around 56,000 pensioners will receive from additional increase of up to €1.50 per week.
Working pensioners will benefit from 40% of their income not being taxable.
There will be tax refund cheques issued again 2023 for amounts ranging between €60 and €140.
Fresh fruit and vegetables will be distributed to primary school children, which is also being discussed for children in Secondary Schools.
All boys born in the year 2000 onwards will receive the HPV vaccine. Those suffering from MS, diabetes and osteoporosis will have medicines added to the formulary. The same applies to those needing home chemotherapy pumps.
Photo: DOI/Clifton Fenech